Fahrenheit Essay

But Ray Bradbury’s Fahrenheit 451 staunchly contrasts these other writings; rather than presenting some omniscient tale admonishing its audience of the dangers of government hierarchy, Bradbury uses satire to criticize primarily emerging trends in society, providing an account that deems them equally as harrowing and dangerous as some authoritarian government, although he does include a limited number of strands involving an anti-government theme. This unique aspect of Fahrenheit 451 has earned the attention of critics and supporters alike. Unlike other novels produced during this time period, Bradbury protested a society growing increasingly centered around materialistic comforts and desires and less around the pursuit of intellect. Bradbury did not simply express his concerns about the degradation of intellect however; he encrypted his message in the layers of a complex tale. Written upon every page of the novel is a fragment of information that plays a larger role than superficially understood. Themes involving the value of imagination, the authority of peers, freedom of speech, and the struggle between individualism and conformity emerge once the novel is more than ostensibly examined. In a time period during which everyone felt that â€Å"Big Brother† existed only to suppress the freedoms of humanity, it became easy to forget that people possess that same power; it became easy to forget that when a society loses the ability to think independently, exploitation is inevitable. Rather than making thoughts and conclusions, you are simply told what to think. The â€Å"firemen† of Fahrenheit 451 metaphorically represent the closest thing to government control in the entire book. Bradbury uses firemen for this particular metaphor because as firemen, they are expected to protect and accommodate the needs of people in danger; they are literally the lifesavers of society. Yet in Fahrenheit 451, they set fire to what is good, knowledge and people alike. â€Å"On the front porch where she had come to weigh them quietly with her eyes, her quietness a condemnation, the woman stood motionless. Beatty flicked the switch to spark the kerosene. (Fahrenheit 451) The firemen burned her. This intense contrast between what is expected of firemen in the real world and how the firemen act in Bradbury’s fabricated world emphasizes the importance of their role in the book. The television installers still install televisions, and people still drive too fast, but the firemen no longer extinguish fires, they ignite them, and that is something notable. Equally as notable, the firemen do not set the fires because they are forced to do so; they set fires because they believe it is right. They are the enforcement of censorship. They are the hands of the government. They are the embodiment of evil. Yet the firemen are willing. As spectators to the atrocious society that Bradbury depicts, we cannot help but cringe as the old woman is burned to death, or as the city is finally destroyed. We cannot understand why the firemen are so eager to commit such heinous crimes until we understand what Bradbury’s futuristic society really depicts. It depicts a society composed of puppets that cannot think but only comprehend. The firemen believe it is right to destroy books because that is what Beatty, the fire chief, tells them. They do not ask why, they do not object, they monotonously carry out the task at hand. â€Å"Well, it’s a job just like any other. Good work with lots of variety. Monday, we burn Miller; Tuesday, Tolstoy; Wednesday, Walt Whitman; Friday, Faulkner; and Saturday and Sunday, Schopenhauer and Sartre. We burn them to ashes and then burn the ashes. That’s our official motto. † Guy Montag, the main character, only confirms the notion that the firemen believe it is their duty to burn books, when he provides the reader with a cheery description of his occupation. Also in this riveting effigy of his career, Bradbury has included irony by naming each street after revered authors, adding a sense of pathetic humor to Montag’s situation, while reinforcing a theme of intellectual degradation. Bradbury’s point in having the firemen burn books on their own accord and not on another’s behalf is to emphasize the conclusion that this is a book written about society and its people, not the government that runs it. This is especially important because this part of the book is often misinterpreted. Until the book is examined on a deeper level, Fahrenheit 451 appears to be a story about government censorship, and how the government can force people to stop reading by slowly outlawing certain books until no books are allowed at all. Bradbury explicitly stated in a LA Weekly News interview, â€Å"Fahrenheit 451 is not a story about government censorship.

Edmund Burke: French Revolution

Edmund Burke demonstrates in his Conciliation speech that he is a well versed orator. He appears to be quite the moralist, as well as maintaining an air of arrogance at times. My initial thought is that he is s staunch supporter of the Colonists. As I continued to review his speech, I began to think he may just be attempting to dissuade any effort of war by the Colonists, seeking greater revenue for England. Burke seems to be playing to the honorable egos of the House of Commons as he states, â€Å"†¦ ennoble the flights of the highest genius, and obtain pardon for the efforts of the meanest understanding. This is surely an attempt to gain favor by putting at the forefront of thought to the men who passed the various Acts, they are able to recant while maintaining some sort of personal honor and dignity. By using himself and his thoughts as an example of the difficulty of the idea, he brings forth the question of how intelligent men of the time can reject reason. Interesting th ough is Burke’s proposition of peace. As I understand it, he is simply proposing peace in the truest sense. No conditions, no complications, based simply on each man’s own understanding of peace. Burke’s proposal of offering peace, removing any types or forms of conflict, the Colonies will once again gain trust in the Crown. He claims that trust through peace, removing any hindrance, loyalty to the British government can be recovered. Interesting enough, Burke states, â€Å"Let the Colonists always keep the idea of civil rights associated with your government †¦Ã¢â‚¬  The use of the word idea and its meaning must be correct, as Burke is very intelligent and careful with his words. This is an attempt to gain approval by speaking to the egos of the members of Parliament. If the Colonists believe their civil rights are being honored, regardless if it is true or not, allegiance to the crown will remain solid. Liberty and freedom are the rights the Colonists want. If the Colonists believe England is providing liberty, the colonies will be freely bound to England forever. Burke implores that for the Colonists to have the freedom, Parliament must give up its interest. With this revenue will freely return to England. This must have been quite an ironic thought for the members of the House of Commons, surrender to win. Surely Burke was right. Prior to the Act of Navigation, the colonies considered themselves British subjects and freely traded with the Mother Country. With the implementation of The Act, England reverted from a parent-child, superior-subordinate relationship to that of master and slave. The Colonists immigrated to America for a new found freedom, not to be bound by England. As English subjects, Colonists only wanted to be treated as equals to the country men in the Motherland, participating in freedom. Burke shows great insight when he states that papers, notices, clauses do not make the government. It is a feeling of communal participation that provides life and vitality to men. When Burke states, â€Å"It is the spirit of the English Constitution which, infused through the mighty mass, pervades, feeds, unites, invigorates, vivifies every part of the Empire, even down to the minutest member,† he demonstrates a basic understanding of human need. The need to feel dignity, to feel alive, to feel esteem, and most of all to feel free. As Burke ends his conciliation speech it seems as if he changes course and begins to speak to the arrogance of the Parliament members. Surely none of the members of the House would like to think of themselves as arrogant and pompous. Decisions based upon arrogance and ego would cause failure. They represent the people, humbly of course. He informs that his idea of conciliation would only seem chimerical to those â€Å"far from being qualified,† to be in charge of an empire such as England. None of the Lords of the House would like to think of themselves as non-qualified for the positions. A higher calling is needed. Not the idea within the minds of men, the elevated minds of men as called on by providence. Burke is bringing religion into the thought process, as men of the church would make a morally right decision. It is difficult to fully understand the personality and temperament of Edmund Burke reading his speech on Conciliation of America. Burke presents himself in a myriad of different personas. He is humble, yet arrogant. He seems to be looking out for the best interests of the Colonists from a moral standpoint. Although, while reading, it appears that he also is looking out for the best interests of England. Especially towards the end of his speech when he states, â€Å"Let us get an American revenue as we have got an American empire. † This tends to make the reader think that he may have been looking out for the interests only of England, his ideas the most feasible way to reach the end result. Regardless of the motive, if the ideas of Edmund Burke were implemented the course of history would certainly have been different.

Financial Analysis of Oil Marketing Companies

?ANALYSIS OF OIL AND GAS MARKETING SECTOR- AN OVERVEW OF ITS GROWTH OVER THE LAST FIVE YEARS (2001 – 2005) AUTHOR: Akhlaq Ahmad Enroll No. 111031-004 Cell no: 03215008455 BBA-6 (Morning) SUPERVISOR: Mr. Musbashir Sadiq Bahria Institute of Management & Computer Sciences, Bahria University Shangrila Road, Sector E-8, Islamabad ABSTRACT Pakistan’s economy is undergoing significant structural changes since 1999-2000. The real GDP growth is accelerating over the last five years. Over the next five years, 7-8 percent growth is targeted to be sustained, which will demand a huge rise in the energy use. The energy sector in Pakistan comprises of oil, natural gas, power (hydro and nuclear) and coal. The oil and gas sector has a lot of potential in Pakistan. Pakistan is classified as low priority by foreign investors because of the unstable economic and political situation. However, efforts are being made by the Government to promote investment in the oil and gas sector, by various incentives such as liberal granting of exploration licenses, restructuring and reform of the oil and gas sectors, deregulation of prices, and privatization of selected assets. The reform has enhanced transparency, making decision makers aware of the various The objective of this thesis is to analyze whether the Oil and Gas sector in Pakistan has really progressed and whether there are better opportunities for investment and growth in this sector now than there were in the past. For the purpose of determining the trend of growth in the Oil and Gas Sector, four Oil and Gas Marketing Companies (O&GMC) were selected and their financial data analyzed over a period of five years (2001 – 2005). Financial data relevant to the sample companies was gathered from published accounts of the companies, in their annual reports. This data was condensed and summed up for the four companies and presented in tables and then used for analysis. The results were held to be representative of the entire Oil Marketing Sector and seem to show a marked trend of growth in the financial indicators reveal that there has been a marked improvement in the growth of this industry. ACKNOWLEDGMENT First of all I am very much thankful to ALLAH ALMIGHTY, who gave me strength & power to complete this task efficiently & effectively. I am also very much thankful to my parents who gave me the basic knowledge of how to read & write, who also prayed for me every time, especially in the hour of need & trouble. Thanks to my most prestigious Supervisor Mr. Mubashir Sadik for providing me guidelines for each & every aspect. Thanks to Mr. Abdul Ahad Maud and Mr. Faisal Subhan who were very cooperative and considerate during the whole period of data collection. I am also very grateful to all those who helped me & gave me up-to-date information or any other information regarding this analysis while completing this task. Thank you in anticipation. DADICATION TO MY LOVING PARENTS TABLE OF CONTENTS ABSTRACTi ACKNOWLEDGMENTiii DADICATIONiv TABLE OF CONTENTSv LIST OF TABLESvi LIST OF FIGURESix CHAPTER 11 INTRODUCTION1 Broad Problem Area/Background1 Rationale5 Problem Statement6 Objectives of the study7 Research Questions8 Limitations9 CHAPTER 210 LITERATURE REVIEW10 CHAPTER 315 METHOD15 Procedure17 CHAPTER 421 RESULTS AND DISCUSSION21 CHAPTER 566 CONCLUSION AND RECOMMENDATION66 Conclusion66 Recommendations 68 GLOSSARY 69 REFERENCES73 LIST OF TABLES Table 4. 1: Pakistan State Oil Company Limited Balance Sheets (2001-2005)21 Table 4. : Pakistan State Oil Company Limited Income Statements (2001-2005)22 Table 4. 3: Pakistan State Oil Company Limited Vertical Common Size of Balance Sheets (2001-2005)23 Table 4. 4: Pakistan State Oil Company Limited Vertical Common Size of Income statement (2001-2005)24 Table 4. 5: Pakistan State Oil Company Limited Horizontal Common Size of Balance Sheets (2001-2005)25 Table 4. 6: Pakistan State Oil Co mpany Limited Horizontal Common Size of Income statement (2001-2005)27 Table 4. 7: Shell Pakistan Limited Balance Sheets (2001-2005)28 Table 4. : Shell Pakistan Limited Income Statements (2001-2005)29 Table 4. 9: Shell Pakistan Limited Vertical Common Size of Balance Sheets (2001-2005)30 Table 4. 10: Shell Pakistan Limited Vertical Common Size of Income Statements (2001-2005)31 Table 4. 11: Shell Pakistan Limited Horizontal Common Size of Balance Sheets (2001-2005)32 Table 4. 12: Shell Pakistan Limited Horizontal Common Size of Income Statements (2001-2005)34 Table 4. 13: Sui Northern Gas Pipelines Limited Balance Sheets (2001-2005)35 Table 4. 14: Sui Northern Gas Pipelines Limited Income Statements (2001-2005)36 Table 4. 5: Sui Northern Gas Pipelines Limited Vertical Common Size of Balance Sheets (2001-2005)37 Table 4. 16: Sui Northern Gas Pipelines Limited Vertical Common Size of Income Statements (2001-2005)38 Table 4. 17: Sui Northern Gas Pipelines Limited Horizontal Common Size of Balance Sheets (2001-2005)39 Table 4. 18: Sui Northern Gas Pipelines Limited Horizontal Common Size of Income Statements (2001-2005)40 Table 4. 19: Sui Southern Gas Company Balance Sheets (2001-2005)41 Table 4. 20: Sui Southern Gas Company Income Statements (2001-2005)42 Table 4. 1: Sui Southern Gas Company Vertical Common Size of Balance Sheets (2001-2005)43 Table 4. 22: Sui Southern Gas Company Vertical Common Size of Income Statements (2001-2005)44 Table 4. 23: Sui Southern Gas Company Horizontal Common Size of Balance Sheets (2001-2005)45 Table 4. 24: Sui Southern Gas Company Horizontal Common Size of Income Statements (2001-2005)46 Table 4. 25: Oil and Gas Marketing Sector Consolidated Balance Sheets (PSO, Shell, SNGPL, SSGC) (2001-2005)47 Table 4. 26: Oil and Gas Marketing Sector Consolidated Income Statement (PSO, Shell, SNGPL, SSGC) (2001-2005)48 Table 4. 7: Oil and Gas Marketing Sector Vertical Common Size of Balance Sheet (PSO, Shell, SNGPL, SSGC) (2001-2005)49 Table 4 . 28: Oil and Gas Marketing Sector Vertical Common Size of Income Statement (PSO, Shell, SNGPL, SSGC) (2001-2005)51 Table 4. 29: Oil and Gas Marketing Sector Horizontal Common Size of Consolidated Balance Sheet (PSO, Shell, SNGPL, SSGC) (2001-2005)52 Table 4. 30: Oil and Gas Marketing Sector Horizontal Common Size of Consolidated Income Statement (PSO, Shell, SNGPL, SSGC) (2001-2005)53 Table 4. 31: Important figures to be used in the calculating the ratios54 Table 4. 2: Ratios for measuring the Liquidity of the sector 55 Table 4. 33: Ratios for measuring the Long Term Debt Paying Ability57 Table 4. 34: Ratios for measuring the profitability of the sector59 Table 4. 35: Ratios of the measurement of the market value of the sector63 LIST OF FIGURES Figure 4. 1: Ratios for measuring the Long Term Debt Paying Ability55 Figure 4. 2: Ratios for measuring the Long Term Debt Paying Ability57 Figure 4. 3: Ratios for measuring the Long Term Debt Paying Ability59 Figure 4. 4: Ratios for measuri ng the Long Term Debt Paying Ability61 Figure 4. : Ratios for measuring the Long Term Debt Paying Ability63 Figure 4. 6: Graphs to specify the growth of the oil & gas marketing companies65 CHAPTER 1 INTRODUCTION Broad Problem Area/Background It is universally recognized that energy is one of the most important inputs for economic growth and national development. The consumption of energy is one of the critical indicators of the level of development of any country. Developed countries use more energy per unit of economic output and far more energy per capita than developing countries. Economic growth is the key to this situation and for economic growth we need energy. Pakistan’s economy is undergoing significant structural changes since 1999-2000. The real GDP growth is accelerating over the last five years. Over the next five years, 7-8 percent growth is targeted to be sustained, which will demand a huge rise in the energy use. The energy sector in Pakistan comprises of oil, natural gas, power (hydro and nuclear) and coal. The total primary energy supplies measured in terms of oil equivalent (toe) stood at 50. million tonnes in 2003-04. Oil and gas account for almost 80% of the energy sector of Pakistan with oil and gas being 29. 9 percent and 49. 7 percent respectively. In order to measure the growth of the energy sector the best proxy might be to evaluate the performance of the oil marketing companies. As these are the companies which are not only selling the oil based products which meet the major needs of the energy in Pakistan but also these companies are dealing in the recently made popular Compressed Natural Gas. As this Oil and Gas sector represents more than 80% of the energy consumed in Pakistan so the companies which are dealing with the marketing of these fuels need to be assessed for their financial performance and results in the past few years. If these companies are showing growth we might assume that the energy sector is growing and the economy is on the right path. The first gas field was discovered in at Sui in 1952 and provides the basis for Pakistan's extensive gas network. Pakistan imports crude oil (it only produces 17% to 20% of what it needs), however is self sufficient in natural gas. Of the companies that are being researched in the present study, Pakistan State Oil Company Limited (PSOCL) and Shell Pakistan are the main planks in the oil industry. Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC), distributes major portion of the natural gas. Pakistan declared 1997-98 an â€Å"Oil and Gas Year†. As a result of offering incentives to potential investors, including foreign companies, some $2. 5 billion of investment was attracted. Oil and Gas Consumption Figures? Oil Consumption (In tones): 1999-00 2000-01 2001-02 2002-03 2003-04 17,768,000 17,648,000 16,950,000 6,542,000 13,421,000 Gas Consumption 2003 ( In mmcft): 1999-00 2000-01 2001-02 2002-03 2003-04 712,001 768,068 872,604 872,264 1,051,418 Consumption of oil and gas has been fairly steady throughout the 1990s with the gas consumption increasing at a rate of 4. 9 percent while the oil consumption increasing at a slightly reduced rate of 2. 5 percent. Until 1999, the govern ment tightly controlled the oil and gas industries of Pakistan. No decision could be made without referring to the higher authorities, and when decisions were made, they were often based on political as opposed to economic considerations. Since early 2000, an ambitious pro-market reform program is being implemented, and gradually, the straightjacket under which the industry used to operate is being dismantled. As a result, the sector has changed dramatically over the last five years, and Pakistan now leads South Asia in sector reform (Economic Survey of Pakistan, 2004-05). The government actions have focused on promoting private investments in the upstream, deregulating most of the market for petroleum products, establishing a regulatory agency for the gas sector, and introducing market-related price caps for petroleum products. The government’s long term goal is to create a competitive, efficiently-run, financially smooth, and a largely privatized oil and gas sector providing supplies to a large share of population. It is important to note that a structural shift is taking place since 2000-01. The last five years have seen a positive trend towards greater gas consumption and a negative trend in the petroleum products consumption. Substantial progress has been made in the restructuring and reform of the oil and gas sectors, deregulation of prices, and privatization of selected assets. The reform has enhanced transparency, making decision makers aware of the various aspects of the business. Rationale Oil and Gas is an important sector in Pakistan economy and it largely affects the GDP of Pakistan, therefore there is a great emphasis on exploration and marketing. The consumption of Oil was 16. 45 million tonnes in 2002-3 and consumption of gas was 872,264 million cubic feet. The acceleration in growth of energy consumption is not surprising when seen against a 15. 4 percent growth in large scale manufacturing and an 8. 5 percent growth in real GDP. Higher consumption of energy simply reflects the rising of economic activity in a country. Oil and natural gas are an integral part of the everyday life. Not only do they make the economy move, they heat and cool our homes and provide electricity. A large number of products are made from oil and gas, including plastics, life-saving medications, art silk, cosmetics, and many other items you may use daily. Even from Strateg ic point and defense view point Pakistan is dependent on oil and gas. Problem Statement Oil and gas sector of Pakistan has changed dramatically over the last five years and Pakistan now leads South Asia in sector reform. The endeavors made to increase the oil and gas supplies need to be analyzed and companies encouraged. With this premise in mind four, Oil and Gas marketing companies have been selected to analyze their financial performance that would also indicate their success. Objectives of the study The objective of research study is to analyze the growth and development of the Oil and Gas Marketing Sector in Pakistan. Currently according to the Board of Investment of Pakistan there are 26 (local and international) companies operating in upstream, 7 downstream companies, and 4 refineries. The focus of this analysis is on the progress of downstream companies that are based in Pakistan. Four leading downstream companies have been selected and their financial performance studied for a period of five years from 2001 to 2005 to see whether these companies are financially stronger and what their rate of growth is and to determine reasons behind the growth. Research Questions 1. What is the importance of Oil and Gas sector in Pakistan economy? 2. What is the growth scenario of Oil and Gas Marketing companies in Pakistan? 3. What is the financial performance of the selected Oil and Gas marketing companies during the research period (2001-2005)? 4. What conclusions can be drawn about the industry based on the financial performance of the selected companies? Limitations Limitations: This research study has certain limitations that are not easy for the researcher to overcome at this level. The general level of inflation has not been adjusted for. Overall prices of oil have increased due to unavoidable natural phenomenon like war in Iraq and Hurricane Katrina. The profitability of the oil marketing companies could be due to increase in prices of petroleum and it may not be the true measure of their financial performance. Some secondary data was not easily available and was very difficult to obtain. As the research work was given to the researcher during the semester so the time constraint played its role. Despite time constraint, the researcher has conducted a comprehensive research. The limited experience in the research field is also a matter of consideration. This is the first study that goes to researcher’s credit. Hence, the researcher does not possess any experience in the field. CHAPTER 2 LITERATURE REVIEW The firm itself and outside providers of capital- creditors and investors –all undertake financial statement analysis. The type of analysis varies according to the specific interests of the party involved. Trade creditors (suppliers’ owed money for goods and services) are primarily interested in the liquidity of a firm. Their claims are short term, and the ability to pay these claims quickly is best judged by an analysis of firm’s liquidity. The claims of bond bondholders, on the other hand are long-term. Accordingly, bondholders are more interested in the cash flow ability of the firm to service debt over a long period of time. They may evaluate this ability by analyzing the capital structure of the firm, the major sources and uses and uses of funds, the firm’s profitability over time, and projections of future profitability over time, and projections of future profitability. The purpose of financial statement analysis is to examine past and current financial data so that a company's performance and financial position can be evaluated and future risks and potential can be estimated. Financial statement analysis can yield valuable information about trends and relationships, the quality of a company's earnings, and the strengths and weaknesses of its financial position (Woelfel, 1989). Investors in a company’s common stock are principally concerned with present and expected future earnings as well as with the stability of these earnings about a trend line. As a result, investors usually focus on analyzing profitability. They would also be concerned with the firm’s financial condition insofar as it affects the ability of the firm to pay dividends and avoid bankruptcy. Internally, management also employs financial analysis for the purpose of internal control and to better provide what capital suppliers seek in financial condition and performance from the firm. From an internal control stand point, management needs to undertake financial analysis in order to plan and control effectively. To plan for the future, the financial manager must assess the firm’s present financial position and evaluates opportunities in relation to this current position. With respect to internal control, the financial manager is particularly concerned with the return on investment provided by various assets of the company and in the efficiency of asset management. Finally, to bargain effectively for outside funds, the financial manager needs to be attuned to all aspects of financial analysis that outside suppliers of capital use in evaluating the firm (Horne & Wachowicz, 2001). Financial analysis of a company should include an examination of the financial statements of the company, including notes to the financial statements, and the auditor's report. The auditor's report will state whether the financial statements have been audited in accordance with generally accepted auditing standards. The report also indicates whether the statements fairly present the company's financial position, results of operations, and changes in financial position in accordance with generally accepted accounting principles. Notes to the financial statements are often more meaningful than the data found within the body of the statements. The notes explain the accounting policies of the company and usually provide detailed explanations of how those policies were applied along with supporting details. Analysts often compare the financial statements of one company with other companies in the same industry and with the industry in which the company operates as well as with prior year statements of the company being analyzed (Foster, 1999). Comparative financial statements provide analysts with significant information about trends and relationships over two or more years. Comparative statements are more significant for evaluating a company than are single-year statements. The analysis of financial data employs various techniques to emphasize the comparative and relative importance of the data presented and to evaluate the position of the firm. These techniques include ratio analysis, common size analysis, study of difference in components of financial statements among industries, review of descriptive material, and comparisons of result with other types of data. The information derived from these types of analyses should be blended to determine overall position. No one type of analysis supports overall findings or serves all types of users. Financial statement analysis is a judgmental process. One of the primary objectives is identification of major changes (turning points) in trends, amounts and relationships and investigation of the reasons underlying those changes. Often, a turning point may signal an early warning of a significant shift in the future success or failure of the business. The judgment process can be improved by experience and by the use of analytical tools. The components of financial statements, specially the balance sheet and the income statements, will vary by type of industry (Gibson, 1998). Economies — all economies — run on energy. Energy is needed to produce food and manufacture goods, power machines and appliances, transport raw materials and finished products, and provide heat and light. The more energy available to a society, the better its prospects for sustained growth; when energy supplies dwindle, economies grind to a halt and the affected populations suffer (Klare, 2005). Since World War II, economic growth around the world has been fueled largely by abundant supplies of hydrocarbons — that is, by petroleum and natural gas. Since 1950, worldwide oil consumption has grown eightfold, from approximately 10 to 80 million barrels per day; gas consumption, which began from a smaller base, has grown even more dramatically. Oil and gas will account for 65% of world energy in 2025, a larger share than at present; and because no other source of energy is currently available to replace them, the future health of the global economy rests on our ability to produce and consume more and more of these hydrocarbons (U. S Department of Energy, 2004). Petroleum refers to crude oil and natural gas or simply oil and gas, found in petroleum reservoirs generally thousands of feet below the surface. Exploratory wells are drilled to discover petroleum wells, while development wells are drilled to produce a portion of previously discovered oil and gas. Estimated volumes of recoverable gas within the reservoir are called oil and gas reserves (Brock, Jennings & Feiten, 1990). The oil and gas sector or the petroleum industry has the following four major segments: 1. Exploration and Production r E&P where oil and gas companies explore for underground reservoirs, and produce the discovered oil and gas using drilled wells. This thesis focuses on this sector of the oil and gas industry. 2. Hydrocarbon processing which includes oil refineries and gas processing plants. 3. Transport, Distribution and Storage by which petroleum is moved from the producing well areas to crude oil refineries and gas processing plants. Oil is moved by pipeline, truck , barge or tanker and Natural gas is moved by pipeline. 4. Retail/Marketing which ultimately markets in various ways the refined products. CHAPTER 3 METHOD Sample For the sample selection of four marketing companies, out of the population of 7 companies listed in the KSE, the criteria used were: 1. Share Capital of the company 2. Sales Revenue 3. Distribution data of the companies Based on these criteria the four companies selected that are operating in Pakistan were the following: Pakistan State Oil Company Limited (PSOCL) Pakistan State Oil Company Limited (PSOCL) is the market leader in Pakistan having 73% of the share of Black Oil Market and around 59% of the share of White Oil market. It is engaged in the import, storage, distribution and marketing of various petroleum products including Fuel oil, HSD, Jet Oil, petro-chemicals, LPG and CNG. Shell Pakistan Limited (SPL) The Shell brand name enjoys a 100-year history in this part of the world, dating back to 1899. Shell Pakistan has been taking a keen interest in expanding recently which shows the confidence in the economic growth and progress in the oil and gas sector. Shell is at present controlling approximately 30% share of the white oil products presently and during the last financial year the Capital Expenditure amounted to Rs 1. billion. Sui Northern Gas Pipelines Limited (SNGPL) Sui Northern Gas Pipelines Limited (SNGPL, is the largest integrated gas company serving more than 2 million consumers in North Central Pakistan through an extensive network in Punjab and NWFP. The Company has over 41 years of experience in operation and maintenance of high-pressure gas transmission and distribution systems. It has a lso expanded its activities to undertake the planning, designing and construction of pipelines, both for itself and other organizations. SNGPL operates in that region of the nation which has a rapidly growing demand for natural gas and power generation due to significant industrial development. Sui Southern Gas Company (SSGC) Sui Southern Gas Company (SSGC) is Pakistan's leading integrated gas Company. The company is engaged in the business of transmission and distribution of natural gas besides construction of high pressure transmission and low pressure distribution systems SSGCL transmission system extends from Sui in Balochistan to Karachi in Sindh comprising over 2780 KM of high pressure pipeline ranging from 12 – 24†³ in diameter. The distribution activities covering over 650 towns in the Sindh and Balochistan are organized through its regional offices. An average of about 234,553 million cubic feet (MMCFD) gas was sold in 2001-2002 to over 1. 7 million industrial, commercial and domestic consumers in these regions through a distribution network of over 22,890 Km. Type of Study This study aims to analyze the financial statements of oil and gas marketing companies and then generalize the result for the whole industry. Thus due to the purpose of the study it is classifies as descriptive study. Procedure Base Year and Period of Analysis For the analysis, 2001 has been taken as the base year, and the performance in the next five years has been compared with the base year. Analysis Methods The analysis of financial data uses various methods to evaluate the relative importance of the data that was presented in financial statements of a firm. The methods used in the analysis of the marketing sector of Pakistan are a blend of Ratio analysis Common size analysis Ratio Analysis The following ratios were used on the composite data of five years: 1. Liquidity Ratios related to the liquidity of short term assets and short term debt paying ability were Working Capital Current Ratio Sales to Working Capital 2. Profitability Ratios measure the ability of a firm to generate earnings. The ratios used were: Total Asset Turnover Operating Income Margin Return on Total Equity Return on Investment Gross Profit Margin Net Profit Margin 3. Debt Ratios that measure the long term debt paying ability of the firm used were: Debt Ratio Debt to Equity Ratio Fixed charge coverage 4. Market Value Ratios that measure the return that is being given to the stockholders were: Earning per share Dividend per share Dividend Payout These financial ratios were calculated for each of the years from 2001 to 2005 and then plotted to see the general trend. They were then studied to identify various turning points in the trends, and to see the underlying reasons behind the changes in trends that were occurring. Common Size Analysis A common size analysis expresses comparisons in percentages. For the financial data there was -Horizontal and vertical analysis of the following balance sheet items, using 2001 as a base year (horizontal) and total assets as base (vertical): Fixed asset Capital work in progress Long term investments Current assets Reserves & surplus Equity and liabilities were shown as a percentage of total liabilities. -Horizontal and vertical analysis of the following Profit and Loss items with 2001 as a base year (horizontal) and Net Sales as base (vertical): Financial Charges Operating expense Gross Profits Taxes Profit before Tax CHAPTER 4 RESULTS AND DISCUSSION Table 4. 1: Pakistan State Oil Company Limited Balance Sheets (2001-2005) Table 4. 2: Pakistan State Oil Company Limited Income Statements (2001-2005) 2001 2002 2003 2004 2005 Sales (Net) 43305. 67 133136. 52 172445. 77 161537. 98 212503. 65 Cost of Sales 136933. 58 126359. 13 163490. 58 152346. 86 198757. 32 Gross Profit 6372. 09 6777. 39 8955. 19 9191. 12 13746. 33 Operating Expenses 2367. 97 2210. 69 2750. 26 4223. 43 5443. 58 Operating Profit 4004. 12 4566. 7 6204. 93 4967. 69 8302. 75 Financial Charges 778. 7 979. 22 274. 78 189. 08 370. 7 Other income 225. 94 1549. 77 279. 17 1484 . 36 1294. 34 Profit Before Taxation 3451. 36 5137. 25 6209. 32 6262. 97 9226. 39 Taxation 1200 1949 2179 2181 2183 Profit After Taxation 2251. 36 3188. 25 4030. 32 4081. 97 7043. 39 Table 4. : Pakistan State Oil Company Limited Vertical Common Size of Balance Sheets (2001-2005) 2001 2002 2003 2004 2005 Current Assets 81. 44% 74. 84% 69. 41% 74. 60% 78. 22% Fixed Assets (Gross) 21. 99% 24. 10% 29. 01% 25. 40% 21. 78% Depreciation 11. 02% 11. 90% 13. 96% 12. 51% 12. 08% Fixed Assets (Net) 10. 97% 12. 21% 15. 05% 12. 89% 9. 70% Capital work in Progress 2. 28% 2. 72% 3. 53% 2. 76% 2. 39% Long Term Investment & Deposits 5. 32% 10. 23% 12. 01% 9. 75% 9. 69% Total Assets 100. 00% 100. 00% 100. 00% 100. 00% 100. 00% Current Liabilities 63. 63% 62. 39% 55. 40% 59. 72% 62. 92% Deferred Taxation 0. 00% . 44% 1. 15% 1. 33% 1. 21% Long Term Liabilities 3. 82% 1. 85% 3. 05% 2. 53% 2. 63% Total Liabilities 67. 45% 65. 69% 59. 60% 63. 58% 66. 76% Paid-Up Capital 4. 74% 4. 36% 5. 30% 4. 04% 3. 29% Reserves & Surplus 27. 80% 29. 96% 35. 09% 32. 38% 29. 95% Total Liabilities & Capital 100. 00% 100. 00% 100. 00% 100. 00% 100. 00% Analysis: The vertical common size of the B/S of PSO shows that the current as well as fixed assets are pretty much the same and there is major improvement in long term investment & deposits while on the liability side again the current and long term liabilities are pretty much constant. The reserves & surplus have been increasing with the passage of time. Table 4. 4: Pakistan State Oil Company Limited Vertical Common Size of Income statement (2001-2005) 2001 2002 2003 2004 2005 Sales (Net) 100. 00% 100. 00% 100. 00% 100. 00% 100. 00% Cost of Sales 95. 55% 94. 91% 94. 81% 94. 31% 93. 53% Gross Profit 4. 45% 5. 09% 5. 19% 5. 69% 6. 47% Operating Expenses 1. 65% 1. 66% 1. 59% 2. 61% 2. 56% Operating Profit 2. 79% 3. 43% 3. 60% 3. 08% 3. 91% Financial Charges 0. 54% 0. 74% 0. 16% 0. 12% 0. 17% Other income 0. 16% 1. 16% 0. 16% 0. 92% 0. 61% Profit Before Taxation 2. 41% 3. 86% 3. 60% 3. 88% 4. 34% Taxation 0. 84% 1. 46% 1. 26% 1. 35% 1. 03% Profit After Taxation 1. 57% 2. 39% 2. 34% 2. 53% 3. 31% Analysis: The detailed analysis of the I/S of PSO shows that the oil marketing company has been able to slightly reduce its cost of sales which has resulted in a significant increase in the gross profit while the operating profit has also shown an increase as the operating expenses have increased but in a lesser proportion. The financial charges have been drastically cut down due to a better financial performance. There has been a marked improvement in the other income which shows that the company has increased its sources of income and all this has resulted in higher profits. Table 4. 5: Pakistan State Oil Company Limited Horizontal Common Size of Balance Sheets (2001-2005) 2001 2002 2003 2004 2005 Current Assets 100% -0. 001% -8. 54% 28. 90% 65. 98% Fixed Assets (Gross) 100% 19. 269% 41. 53% 62. 56% 71. 13% Depreciation 100% 17. 468% 35. 91% 59. 74% 89. 36% Fixed Assets (Net) 100% 21. 078% 47. 18% 65. 40% 52. 81% Capital work in Progress 100% 30. 150% 66. 47% 70. 52% 81. 58% Long Term Investment & Deposits 100% 109. 346% 142. 40% 158. 6% 214. 84% Total Assets 100% 8. 811% 7. 30% 40. 72% 72. 81% Current Liabilities 100% 6. 701% -6. 57% 32. 08% 70. 88% Deferred Taxation 100% 47200% 37250% 56425% 63018% Long Term Liabilities 100% -47. 371% -14. 53% -7. 05% 18. 70% Total Liabilities 100% 5. 958% -5. 19% 32. 63% 71. 02% Financed By Paid-Up Capital 100% 0. 000% 20. 00% 20. 00% 20. 00% Reserves & S urplus 100% 17. 237% 35. 44% 63. 87% 86. 15% Total Liabilities & Capital 100% 8. 811% 7. 30% 40. 72% 72. 81% Analysis: The horizontal common size of the B/S of PSO significantly tells that the current assets have increased substantially mainly due to the increase in sales. Another important aspect to note is the great deal of increase in the long term investments which is due to various new projects that have been undertaken and this shows that the company is expanding. The increase in current liabilities is mainly due to the increase in credit sales and also because a significant portion of long term loans has been converted into current portion while the increase in long term liabilities is mainly due to the increase in employee benefits which again shows that the company has been doing very well. Another good indicator of the good performance is the increase in the reserves & surplus section of the B/S. Table 4. 6: Pakistan State Oil Company Limited Horizontal Common Size of Income statement (2001-2005) 2001 2002 2003 2004 2005 Sales (Net) 100% -7. 096% 20. 33% 12. 72% 48. 29% Cost of Sales 100% -7. 722% 19. 39% 11. 26% 45. 15% Gross Profit 100% 6. 361% 40. 54% 44. 24% 115. 73% Operating Expenses 100% -6. 642% 16. 14% 78. 36% 129. 88% Operating Profit 100% 14. 050% 54. 96% 24. 06% 107. 36% Financial Charges 100% 25. 751% -64. 71% -75. 72% -52. 40% Other income 100% 585. 921% 23. 56% 556. 97% 472. 87% Profit Before Taxation 100% 48. 847% 79. 91% 81. 46% 167. 33% Taxation 100% 62. 417% 81. 58% 81. 75% 81. 92% Profit After Taxation 100% 41. 614% 79. 02% 81. 31% 212. 85% Analysis: The horizontal common size of the I/S clearly indicates the drastic improvement in the sales which is almost around 50% while due to a lesser increase in the cost of sales the gross profit is up by over 115%. The financial charges have been reduced to more than 50% and a huge increase in other sources of income has led to higher profit before taxation. Table 4. 7: Shell Pakistan Limited Balance Sheets (2001-2005) 2001 2002 2003 2004 2005 Current Assets 6470. 64 7145. 22 6149. 68 7912. 63 12725. 13 Fixed Assets (Gross) 6027. 49 6705. 37 7554. 29 8708. 5 9569. 78 Accumulated Depreciation 2189. 29 2738. 78 3290. 57 3852. 84 4532. 53 Fixed Assets (Net) 3838. 20 3966. 59 4263. 72 4855. 21 5037. 25 Capital Work in Progress 464. 52 534. 61 564. 44 544. 07 582. 38 Long Term Investment & Deposits 1294. 68 186. 27 1998. 93 2032. 22 1988. 13 Total Assets 12068. 04 11832. 69 12976. 77 15344. 13 20332. 89 Liabilities Current L iabilities 6470. 65 5934. 76 7029. 83 9042. 39 11951. 06 Long Term Liabilities 66. 84 47. 51 77. 86 43. 49 48. 22 Deferred Taxation 141 29. 24 17. 26 126. 42 20. 74 Financed By Paid-Up Capital 350. 66 350. 66 350. 66 350. 66 350. 66 Reserves & Surplus 038. 89 5470. 52 5501. 16 5781. 87 7962. 21 Total Liabilities & Equity 12068. 04 11832. 69 12976. 77 15344. 13 20332. 89 Table 4. 8: Shell Pakistan Limited Income Statements (2001-2005) 2001 2002 2003 2004 2005 Sales (Net) 65725. 15 69042. 05 77822. 82 79180. 35 98526. 62 Cost of Sales 61628. 48 64164. 23 72049. 47 72973. 11 89684. 58 Gross Profit 4096. 67 4877. 82 5773. 35 6207. 24 8842. 04 Operating Expenses 2486. 67 3292. 92 3794. 36 3806. 01 4609. 77 Operating Profit 1610. 00 1584. 90 1978. 99 2401. 23 4232. 27 Financial Charges 50. 27 46. 76 51. 48 224. 33 596. 55 Other Income 191. 72 154. 46 110. 32 12. 02 22. 33 Profit Before Taxation 1630. 45 1572. 44 1899. 91 2188. 92 3658. 05 Taxation 574. 42 509. 62 644. 91 680. 91 1197. 19 Profit After Taxation 1056. 03 1062. 81 1255. 00 1508. 01 2460. 86 Table 4. 9: Shell Pakistan Limited Vertical Common Size of Balance Sheets (2001-2005) 2001 2002 2003 2004 2005 Current Assets 53. 62% 60. 39% 47. 39% 51. 57% 62. 58% Fixed Assets (Gross) 49. 95% 56. 67% 58. 21% 56. 75% 47. 07% Accumulated Depreciation 18. 14% 23. 15% 25. 36% 25. 11% 22. 29% Fixed Assets (Net) 31. 80% 33. 52% 32. 86% 31. 64% 24. 77% Capital Work in Progress 3. 85% 4. 52% 4. 35% 3. 55% 2. 86% Long Term Investment & Deposits 0. 73% 1. 57% 15. 40% 13. 24% 9. 78% Total Assets 100. 00% 100. 00% 100. 00% 100. 00% 100. 00% Current Liabilities 53. 62% 50. 16% 54. 17% 58. 93% 58. 78% Long Term Liabilities 0. 55% 0. 40% 0. 60% 0. 28% 0. 24% Deferred Taxation 1. 17% 0. 25% 0. 13% 0. 82% 0. 10% Financed By Paid-Up Capital 2. 91% 2. 96% 2. 70% 2. 29% 1. 72% Reserves & Surplus 41. 75% 46. 23% 42. 39% 37. 68% 39. 16% Total Liabilities & Equity 100. 00% 100. 00% 100. 00% 100. 00% 100. 00% Analysis: Vertical common size of the B/S of Shell Pakistan shows that the company has been pretty much maintaining its proportion of all the assets, liabilities

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This diagnosis tool was focused on the behavior and personality traits and actions of the person, but had not been viewed as a factor in studying criminal behavior (Vitacco, Neuman Jackson, 2005). This early 20th Century research in the field of psychopathy, it has blossomed and grown in to a psychological field of science all its own. In the 1980s the Psychopathy Checklist (PCL) which listed the criterion from the initial research as well as new criterion for a total of 20 characteristics. The PCL was used on prisoners and criminally hospitalized people to show a correlation between psychopathy tendencies, and crime and violence. Eventually the PCL was modified a bit more to include the Psychopathy Checklist: Screening Version (PCL:SV), Psychopathy: Revised (PCL:R), and the Psychopathy Checklist: Youth Version (PCL:YV). All of these checklists have one thing in common; each can be used as a prediction tool in the relation of psychopathy traits and criminal activity (Reid, Gacono, 2000; Ross, Benning, Adams, 2007;Schmidt, McKinnon, Chattha, Brownlee, 2006; Vitacco, Neumann, Jackson, 2005; Vitale, Brinkley, Hiatt, Newman, 2007; Wormith, Olver, Stevenson, Girard, 2007). In just about every study there are four factors that are considered basic traits of the psychopathy personality. These four factors are found as predictors in each of the PCLs used in today’s psychopathy research. The traits include interpersonal detachment, affective disorders, non-conforming behavioral traits, and general antisocial actions (Reid, Gacono, 2000; Ross, Benning, Adams, 2007;Schmidt, McKinnon, Chattha, Brownlee, 2006; Vitacco, Neumann, Jackson, 2005; Vitale, Brinkley, Hiatt, Newman, 2007; Wormith, Olver, Stevenson, Girard, 2007). While most of the recent research has been used mainly on the male populations in prisons, juvenile institutions and psychiatric hospitals, the researchers who long believed the standard set did not fit with the female personality have begun to change the mindset. Many demographic factors including gender and race are being used to determine correlations and causes of the psychopathy personality. Psychopathy and Female Gender In more recent years, there has been an insurgent amount of research based on the psychopathy tendencies and predictability of female youth and adult offenders. The initial studies using any of the PCLs and including women as participants did not show a significant correlation between the psychopathic female and criminal behavior. However, more and more studies are showing correlations between and the prediction of criminal behavior in adult and adolescent female individuals with psychopathy personalities. One study of mixed adolescents began with the assumption of female participants having underlying factors that are not accounted for in the normal questions of the CPL:YV. This assumption was based on the ideal of the differences in the development of female and male adolescents. This study discovered some interesting information. While it was unable to predict non-violent activities in male or female participants, the female participants had extreme values in the prediction of violent behavior. This was one of the first studies including females that proved it would be used reliable for prediction of female violence (Schmidt, McKinnon, Chattha, Brownlee, 2006). In fact, the mean association with female prediction was 21. 8 with a standard deviation of 5. 8, while male counterparts had a mean association with prediction of 22. 1 and a standard deviation of 6. 9.  This shows a correlation in the reliability of the predicting feature of this checklist in relation to female participants (Schmidt, McKinnon, Chattha, Brownlee, 2006). There have also been studies on adult females with psychopathy traits that have found a decrease in intelligence with an increase in anxiety and psychopathic tendencies. This study allowed researchers to show the validity and reliability of the PCL:SV or PCL:R as a predicting tool in violent behavior and recidivism possibilities in both female inpatients and outpatients who participated in the study. Finally the task is not more just trying to understand the why and what of the male psychopath but the female psychopathy is gaining more ground and more research is being conducted now and in the future (Vitale, Brinkley, Hiatt, Newman, 2007) Psychopathy and Race Within many of the same studies that are looking at female psychopaths, researchers are also declaring that race may be a factor in the onset of psychopathy tendencies. Most studies unfortunately, are coming up short with little significance in any correlation between race and psychopathic traits. In fact, the majority of the studies are showing a much higher significance in the correlation between gender and psychopathy than race and psychopathy (Reid, Gacono, 2000; Ross, Benning, Adams, 2007;Schmidt, McKinnon, Chattha, Brownlee, 2006; Vitacco, Neumann, Jackson, 2005; Vitale, Brinkley, Hiatt, Newman, 2007; Wormith, Olver, Stevenson, Girard, 2007). This does not mean that the researchers will stop working toward finding the cause especially if it is a demographic in nature. Today’s researchers are working long and hard to gain a better understanding of what is the true cause of psychopathy and if there are any signs that we can focus on when the child is still young. Psychopathy Treatments At this time, there is not known, end all, treatment for psychopathy. The reason for this is due to the number of factors that can attribute to the psychopathy traits. Just being antisocial is not psychopath and just being insensitive is not psychopath. The fact of the matter is that most psychopaths enter treatment just to quit almost immediately. The fact that the disorder is not associated with any practical or tangible pain or symptoms make this disorder easily ignored by the patient and the community. Without tangible repercussions, the treatment is meaningless and the individual returns to the actions of the past (Reid Gacono, 2005). Another problem is that no psychiatric medications seem to work to change the inherent traits of the psychopath. Without the use of normal types of therapy and medication treatment of this disorder is extremely hard. The only treatment that seems to work with psychopaths is the extreme treatments with rigorous and unchangeable schedules such as â€Å"wilderness programs† and such that take the individual out of normal life and into a boot camp like setting with structure and guidance. However, this rigorous lifestyle is usually abandoned as soon and the program is over (Reid Gacono, 2005). Recidivism of Psychopathy Personalities  Recidivism is basically the chance of a person returning to a way of life that is unacceptable, be the actions criminal, or just not acceptable to the community. In either case, a person who has been diagnosed with a psychopathy disorder is more likely to return to previous actions. In fact, the CPL:R is an incredibly accurate predictor of recidivism in persons with psychopathy tendencies. Studies have shown that a higher value in psychopathy and higher value in anxiety correlates with a lower intelligence value and a better chance of acting out in a violent way. If the violent action had been used previously, then the chance of recidivism was even more likely (Reid, Gacono, 2000; Ross, Benning, Adams, 2007;Schmidt, McKinnon, Chattha, Brownlee, 2006; Vitacco, Neumann, Jackson, 2005; Vitale, Brinkley, Hiatt, Newman, 2007; Wormith, Olver, Stevenson, Girard, 2007). Another study showed that many women with psychopathy tendencies also have what is called â€Å"selective attention abnormalities† that cause the women to exhibit violent and criminal actions. The action is not emotionally motivated but is an inherent deficit in the personality of the person (Vitale, Brinkley, Hiatt, Newman, 2007). Conclusion In reality, more studies have to be conducted on psychopathy in mixed populations as well as single demographic variables. The field may have been around for over 200 years, but it is only now that science is catching up and finally giving some results that researches can use and help to treat this disorder (Reid, Gacono, 2000; Ross, Benning, Adams, 2007;Schmidt, McKinnon, Chattha, Brownlee, 2006; Vitacco, Neumann, Jackson, 2005; Vitale, Brinkley, Hiatt, Newman, 2007; Wormith, Olver, Stevenson, Girard, 2007). Psychopathy is not psychotic. There is a difference, but the violent tendencies are just below the surface, and the reason the traits are provoked is still widely unknown. The more research and the clearer the view of this disorder, the more help we can offer to those who are diagnosed in the future.

Industrial Revolution In Western Europe

Industrial Revolution In Western Europe Industrialization also introduces a form of philosophical change where people obtain a different attitude towards their perception of nature, and a sociological process of ubiquitous rationalization. Positive work ethics in populations at large combined with skills in quickly utilizing new technologies and scientific discoveries were likely to boost production and income levels and as the latter rose, markets for consumer goods and services of all kinds tended to expand and provide a further stimulus to industrial investment and economic growth. By the end of the century, East Asia was one of the most economically successful regions of the world with free market countries such as Hong Kong being widely seen as models for other, less developed countries around the world to emulate. The first country to industrialize was Great Britain during the Industrial Revolution Description According to the original sector classification of Jean Fourastià ©, an economy consists of a Primary sector of commodity production (farming, livestock breeding, exploitation of mineral resources), a secondary sector of manufacturing and processing, and a Tertiary Sector of service industries. The industrialization process is historically based on the expansion of the secondary sector in an economy dominated by primary activities. The first ever transformation to an industrial economy from an agrarian one was called the Industrial Revolution and this took place in the late 18th and early 19th centuries in a few countries of Western Europe and North America, beginning in Great Britain. This was the first industrialization in the worlds history. The Second Industrial Revolution describes a later, somewhat less dramatic change that came about in the late 19th century with the widespread availability of electric power, internal combustion engines, and assembly lines to the already industrialized nations. The lack of an industrial sector in a country is widely seen as a major handicap in improving a countrys economy, and power, pushing many governments to encourage or enforce industrialization. History of industrialization Most pre-industrial economies had standards of living not much above subsistence, among that the majority of the population were focused on producing their means of survival. For example, in medieval Europe, 80% of the labor force was employed in subsistence agriculture. Some pre-industrial economies, such as classical Athens, had trade and commerce as significant factors, so native Greeks could enjoy wealth far beyond a sustenance standard of living through the use of slavery. Famines were frequent in most pre-industrial societies, although some, such as the Netherlands and England of the seventeenth and eighteenth centuries, the Italian city states of the fifteenth century, the medieval Islamic Caliphate, and the ancient Greek and Roman civilizations were able to escape the famine cycle through increasing trade and commercialization of the agricultural sector. It is estimated that during the seventeenth century Netherlands imported nearly 70% of its grain supply and in the fifth century BC Athens imported three quarters of its total food supply. Industrialization through innovation in manufacturing processes first started with the Industrial Revolution in the north-west and Midlands of England in the eighteenth century.[5] It spread to Europe and North America in the nineteenth century, and to the rest of the world in the twentieth. Industrial revolution in Western Europe In the eighteenth and nineteenth centuries, Great Britain experienced a massive increase in agricultural productivity known as the British Agricultural Revolution, which enabled an unprecedented population growth, freeing a significant percentage of the workforce from farming, and helping to drive the Industrial Revolution. Due to the limited amount of arable land and the overwhelming efficiency of mechanized farming, the increased population could not be dedicated to agriculture. New agricultural techniques allowed a single peasant to feed more workers than previously; however, these techniques also increased the demand for machines and other hardwares, which had traditionally been provided by the urban artisans. Artisans, collectively called bourgeoisie, employed rural exodus workers to increase their output and meet the countrys needs. The growth of their business coupled with the lack of experience of the new workers pushed a rationalization and standardization of the duties the in workshops, thus leading to a division of labor, that is, a primitive form of Fordism. The process of creating a good was divided into simple tasks, each one of them being gradually mechanized in order to boost productivity and thus increase income. The accumulation of capital allowed investments in the conception and application of new technologies, enabling the industrialization process to continue to evolve. The industrialization process formed a class of industrial workers who had more money to spend than their agricultural cousins. They spent this on items such as tobacco and sugar, creating new mass markets that stimulated more investment as merchants sought to exploit them. The mechanization of production spread to the countries surrounding England in western and northern Europe and to British settler colonies, helping to make those areas the wealthiest, and shaping what is now known as the Western world. Some economic historians argue that the possession of so-called exploitation colonies eased the accumulation of capital to the countries that possessed them, speeding up their development. The consequence was that the subject country integrated a bigger economic system in a subaltern position, emulating the countryside, which demands manufactured goods and offers raw materials, while the colonial power stressed its urban posture, providing goods and importing food. A classical example of this mechanism is said to be the triangular trade, which involved England, southern United States and western Africa. Critics argue that this polarity still affects the world, and has deeply retarded industrialization of what is now known as the Third World. Some have stressed the importance of natural or financial resources that Britain received from its many overseas colonies or that profits from the British slave trade between Africa and the Caribbean helped fuel industrial investment. Early industrialization in other countries After the Convention of Kanagawa issued by Commodore Matthew C. Perry forced Japan to open the ports of Shimoda and Hakodate to American trade, the Japanese government realized that drastic reforms were necessary to stave off Western influence. The Tokugawa shogunate abolished the feudal system. The government instituted military reforms to modernize the Japanese army and also constructed the base for industrialization. In the 1870s, the Meiji government vigorously promoted technological and industrial development that eventually changed Japan to a powerful modern country. In a similar way, Russia suffered during the Allied intervention in the Russian Civil War. The Soviet Unions centrally controlled economy decided to invest a big part of its resources to enhance its industrial production and infrastructures to assure its survival, thus becoming a world superpower.[8] During the Cold war, the other European socialist countries, organized under the Comecon framework, followed the same developing scheme, albeit with a less emphasis on heavy industry. Southern European countries saw a moderate industrialization during the 1950s-1970s, caused by a healthy integration of the European economy, though their level of development, as well as those of eastern countries, doesnt match the western standards.[9][10] The Third World A similar state-led developing programme was pursued in virtually all the Third World countries during the Cold War, including the socialist ones, but especially in Sub-Saharan Africa after the decolonization period.[citation needed] The primary scope of those projects was to achieve self-sufficiency through the local production of previously imported goods, the mechanization of agriculture and the spread of education and health care. However, all those experiences failed bitterly due to a lack of realism: most countries didnt have a pre-industrial bourgeoisie able to carry on a capitalistic development or even a stable and peaceful state. Those aborted experiences left huge debts toward western countries and fuelled public corruption. Petrol producing countries Oil-rich countries saw similar failures in their economic choices. An EIA report stated that OPEC member nations were projected to earn a net amount of $1.251 trillion in 2008 from their oil exports.[11] Because oil is both important and expensive, regions that had big reserves of oil had huge liquidity incomes. However, this was rarely followed by economic development. Experience shows that local elites were unable to re-invest the petrodollars obtained through oil export, and currency is wasted in luxury goods.[12] This is particularly evident in the Persian Gulf states, where the per capita income is comparable to those of western nations, but where no industrialization has started. Apart from two little countries (Bahrain and the United Arab Emirates), Arab states have not diversified their economies, and no replacement for the upcoming end of oil reserves is envisaged. Industrialization in Asia Apart from Japan, where industrialization began in the late 19th century, a different pattern of industrialization followed in East Asia. One of the fastest rates of industrialization occurred in the late 20th century across four countries known as the Asian tigers thanks to the existence of stable governments and well structured societies, strategic locations, heavy foreign investments, a low cost skilled and motivated workforce, a competitive exchange rate, and low custom duties. In the case of South Korea, the largest of the four Asian tigers, a very fast paced industrialization took place as it quickly moved away from the manufacturing of value added goods in the 1950s and 60s into the more advanced steel, shipbuilding and automobile industry in the 1970s and 80s, focusing on the high-tech and service industry in the 1990s and 2000s. As a result, South Korea became a major economic power and today is one of the wealthiest countries in Asia. This starting model was afterwards successfully copied in other larger Eastern and Southern Asian countries, including communist ones. The success of this phenomenon led to a huge wave of offshoring i.e., Western factories or Tertiary Sector corporations choosing to move their activities to countries where the workforce was less expensive and less collectively organized. China and India, while roughly following this development pattern, made adaptations in line with their own histories and cultures, their major size and importance in the world, and the geo-political ambitions of their governments (etc.). Currently, Chinas government is actively investing in expanding its own infrastructures and securing the required energy and raw materials supply channels, is supporting its exports by financing the United States balance payment deficit through the purchase of US treasury bonds, and is strengthening its military in order to endorse a major geopolitical role. Meanwhile, Indias government is investing in specific vanguard economic sectors such as bioengineering, nuclear technology, pharmaceutics, informatics, and technologically-oriented higher education, openly over passing its needs, with the goal of creating several specialization poles able to conquer foreign markets. Both Chinese and Indian corporations have also started to make huge investments in Third World countries, making them significant players in todays world economy. Newly industrialized countries In recent decades, a few countries in Latin America, Asia, and Africa, such as Turkey, South Africa, Malaysia, Philippines and Mexico have experienced substantial industrial growth, fuelled by exportations going to countries that have bigger economies: the United States, Japan, China, India and the EU. They are sometimes called newly-industrialized countries.[citation needed] Despite this trend being artificially influenced by the oil price increases since 2003, the phenomenon is not entirely new nor totally speculative (for instance see: Maquiladora). Most analysts conclude that in the next few decades the whole world will experience industrialization, and international inequality will be replaced with worldwide social inequality. Other outcomes Urbanization The concentration of labor into factories has brought about the rise of large towns to serve and house the working population. Exploitation Workers have to leave their family in order to come to work in the towns and cities where the industries are found Change to family structure The family structure changes with industrialization. The sociologist Talcott Parsons noted that in pre-industrial societies there is an extended family structure spanning many generations who probably remained in the same location for generations. In industrialized societies the nuclear family, consisting of only of parents and their growing children, predominates. Families and children reaching adulthood are more mobile and tend to relocate to where jobs exist. Extended family bonds become more tenuous. Environment Industrialization has spawned its own health problems. Modern stressors include noise, air, water pollution, poor nutrition, dangerous machinery, impersonal work, isolation, poverty, homelessness, and substance abuse. Health problems in industrial nations are as much caused by economic, social, political, and cultural factors as by pathogens. Industrialization has become a major medical issue worldwide. Current situation In 2005, the USA was the largest producer of industrial output followed by Japan and China, according to International Monetary Fund. Currently the international development community (World Bank, OECD, many United Nations departments, and some other organizations) endorses development policies like water purification or primary education. The community does not recognize traditional industrialization policies as being adequate to the Third World or beneficial in the longer term, with the perception that it could only create inefficient local industries unable to compete in a free-trade dominated world.

The Tempest - Barbarism versus Civilization :: English Literature Essays

The Tempest - Barbarism versus Civilization In Shakespeare’s play, "The Tempest," an underlying theme of barbarism versus civilization appears. Shakespeare creates characters that exemplify symbols of nature or nurture. The symbolism of the characters is derived from their actions. These actions show Shakespeare’s view of the uncivilized and the civilized, as well as help the reader develop his own opinion of each side. In this whimsical play, Prospero, the former Duke of Milan, after being supplanted of his dukedom by his brother, arrives on an island. He frees a spirit named Ariel from a spell and in turn makes the spirit his slave. He also enslaves a native monster named Caliban. These two slaves, Caliban and Ariel, symbolize the theme of nature versus nurture. Caliban is regarded as the representation of the wild; the side that is usually looked down upon. Although from his repulsive behavior, Caliban can be viewed as a detestable beast of nature, it can be reasonably inferred that Shakespeare’s intent was to make Caliban a sympathetic character. During the first encounter, Caliban comes across very bestial and immoral. While approaching Caliban’s cave, Prospero derogatorily says, "†¦[he] never/Yields us kind answer," meaning Caliban never answers respectfully. When Prospero reaches the cave, he calls to Caliban. Caliban abruptly responds, "There’s wood enough within." His short, snappy reply and his odious tone, reveal the bitterness he feels from leading a servile life. Caliban’s rudeness makes him seem like an unworthy and despicable slave. Also, Caliban displays an extreme anger toward Prospero. When Caliban is asked to come forth he speaks corruptly, "As wicked dew as e’er my mother brushed/With raven’s feather from unwholesome fen/Drop on you both!†¦And blister you all o’er!" Caliban’s attitude and disrespect is unfitting for a servant. However, his actions are justified. Until Prospero arrived on the island, Caliban was his own king. The island was left to him by his mother, Sycorax. Nevertheless, Prospero took charge of the isle and eventually enslaved Caliban. "†¦Thou strok’st me†¦I loved thee†¦" is part of a quote that illustrates Caliban’s relationship with Prospero before he was his slave. Prospero comforted Caliban and gave him water and berries; he taught him how to speak, as well. During this time Caliban loved Prospero and showed him the features of the island, "The fresh springs, brine-pits, barren place and fertile†¦" Caliban regrets helping Prospero as he says towards the end of his speech, "Cursed be I that did so!" Caliban feels this way due to his imprisonment.

Human Values and Ethics - What Science Cannot Discover, Mankind Cannot Know :: Philosophy Essays

Human Valuse and Ethics - What Science Cannot Discover, Mankind Cannot Know Those who maintain the insufficiency of science, as we have seen in the last two chapters, appeal to the fact that science has nothing to say about "values." This I admit; but when it is inferred that ethics contains truths which cannot be proved or disproved by science, I disagree. The matter is one on which it is not altogether easy to think clearly, and my own views on it are quite different from what they were thirty years ago. But it is necessary to be clear about it if we are to appraise such arguments as those in support of Cosmic Purpose. As there is no consensus of opinion about ethics, it must be understood that what follows is my personal belief, not the dictum of science. The study of ethics, traditionally, consists of two parts, one concerned with moral rules, the other with what is good on its own account. Rules of conduct, many of which have a ritual origin, play a great part in the lives of savages and primitive peoples. It is forbidden to eat out of the chief's dish, or to seethe the kid in its mother's milk; it is commanded to offer sacrifices to the gods, which, at a certain stage of development, are thought most acceptable if they are human beings. Other moral rules, such as the prohibition of murder and theft, have a more obvious social utility, and survive the decay of the primitive theological systems with which they were originally associated. But as men grow more reflective there is a tendency to lay less stress on rules and more on states of mind. This comes from two sources - philosophy and mystical religion. We are all familiar with passages in the prophets and the gospels, in which purity of heart is set above meticulous observance of the Law; and St. Paul's famous praise of charity, or love, teaches the same principle. The same thing will be found in all great mystics, Christian and non-Christian: what they values is a state of mind, out of which, as they hold, right conduct must ensue; rules seem to them external, and insufficiently adaptable to circumstances. One of the ways in which the need of appealing to external rules of conduct has been avoided has been the belief in "conscience," which has been especially important in Protestant ethics.

Spiders Essay -- essays research papers

Spiders My essay is on spiders. I have chosen a few spiders to report about. I also have some basic info about spiders in general. Spiders comprise a large, widespread group of carnivorous arthropods. They have eight legs, can produce silk, and usually have poison glands associated with fangs. More than 30,000 species of spiders are found on every continent except Antarctica in almost every kind of terrestrial habitat and a few aquatic ones as well. Spiders range in body size from about 0.5 mm (0.02 in) to 9 cm (3.5 in). The term spider is derived from the Old English spinnan ( "to spin" ) referring to the group's use of silk. Spiders make up the order Araneae in the class Arachnida, which takes its name from the mythological character Arachne, a peasant girl who challenged the weaving skill of the goddess Athena. Arachne equaled Athena's skill in a contest, and in response to Athena's anger she hanged herself. In belated remorse Athena changed the body of Arachne into a spider and allowed her to retain her weaving skill. My first selection is the brown recluse spider. The brown recluse spider (Loxosceles reclusa) is a poisonous spider in in the United States. Its mostly found from Kansas and Missouri, south to Texas, and west to California. Found in sheltered places indoors and outdoors it is about 10 mm (.4 in.) long and has an orange-yellow body with a dark violin-shaped design on its back. Its bite isn't usually fatal to humans, the venom destroys the skin a...

Do You Agree to Redevelop a City

Do you agree to redevelop Lee Tong Street ? I do not agree to redevelop Lee Tong Street because of the following reasons . From the economic point of view , redevelop Lee Tong Street cause serious economic losses to the shop owners and the residents . First , after the redevelopment , the property prices will be increased . It will threaten the survival of the existing small shop owners . They concern about whether they will receive enough compensation to cover their losses . Some may not be able to afford the high rent and will be forced to close down .Second , the residents worry if they will receive enough compensation to purchase a flat of a similar size and whether their living conditions will be improved . Also , the tenants concern about whether they could be relocated in the same area and afford the increased rent in the future . Those stakeholders need to face a serious economic losses in the redevelopment of Lee Tung Street . From the social point of view , redevelopment of Lee Tung Street will bring a radical change for the local residents . First , after the redevelopment , Lee Tung Street will have many high-rise buildings .Because of the densely-packed high-rise buildings , the density will be increased . And the air pollution also will become more serious . Second , Lee Tung Street was originally a public space where residents could hang around and interact with each other freely . Communities could then be established . However , after these streets are redeveloped into shopping malls which belong to developers and are privately owned , people will no longer be entitled to the right to interact freely in these private areas .This hinders the formation of communities . The redevelopment bring many inconvenient to the society and the residents . P. 1 From the cultural point of view , redevelop Lee Tung Street will destroy the local cultural , Chinese traditional crafts and the traditional architectural . First , residents along Lee Tung Street mad e use of the buildings to establish a local printing industry . They used the front part of the building as their shops , while the back was used as the printing workshops .A cluster of wedding card printing shops soon sprang up and turned Lee Tung Street into a well-known print merchandising hub which is part of the collective memory of Hong Kong people . The local cultural will gradually vanish along with the redevelopment . Different traditional shops and food stalls will be replaced with monotonous chain stores and shops , undermining cultural diversity . Next , although the old buildings on Lee Tung Street are not of special historical value , very few of those buildings in the architectural style of the 50s and 60s are left .Destroy a cultural is easy , but establish a cultural is not a easy job . Redevelopment Lee Tung Street will destroy Hong Kong local cultural . Some people might assert that after the redevelopment of Lee Tung Street , it can has a better use of land for o thers sustainable development . And the better facilities can solve the poor hygiene and the pollution problems . However , after the redevelopment , the buildings will changed from mainly six-storey Chinese-styled tenement buildings to high-rise buildings . The residents will more and more .Then , the density of Lee Tung Street will much increased . Also , the redevelopment project include building new shopping malls . That means Lee Tung Street will become a tourist spot like Causeway Bay . As we all know , Causeway Bay ‘s air pollution problem is the most serious in Hong Kong . Are we going to forgo our environmental problem? Redevelop Lee Tung Street not only affect the local residents , but also all the Hong Kong people . The losses for redevelopment project are more than the benefits . Therefore , it is a wrong decision to redevelop Lee Tung Street . ( End )

Swimming Sport How Import

Student Name: Fatma Mohamed Hany Swimming Sport Swimming sport is one of the best sports which have a lot of advantages and few disadvantages. It is useful to any one and healthy, but it needs some conditions in order to be able to reduce or avoid its disadvantages. Swimming as a sport is considered healthy which can be continued for a lifetime. It is good for heart, muscle tone, and maintain healthy joints. Any person can start learning swimming at young age and continue use this sport to the last day in his or her life. Also, it cools you off, especially in summer when the weather is hot and humid. In addition to that swimming is a great exercise without the weight pounding you. It is nice for any one and it calms you. It is good as a recreational activity. It helps in building character such as time management and discipline. It builds endurance, fitness and muscles strength. It makes your body flexible and comfortable. It puts very little stress on joints and does need strong muscle to play it. Therefore, it is good for you mental health because it calms you. It does help you lose weight when person swims faster a little bit. One more advantage, it reduces the risk of drowning. In the matter of facts I found that there are no major disadvantages for the swimming sports. If you do mined not having darker skin, it cause tanned body. It does a little to lose weight, because swimming is water based exercise. If you swim in a chlorinated pool be aware that you are absorbing a lot of the chemical through your skin. Public pools are not always clean. The contaminated water makes your skin dirt. That means you stop burning calories once you leave water owning to its cooling effect. Therefore, it is important to alternate other sports such as running or bicycling to sustain weight loss. One more disadvantage for many people that is caused damaged hair. Finally, I prefer swimming sport because it is safe, easy to me. It is not risky as karate, boxing or horseback riding. I consider swimming the best summer sport of all.